B-Schools In India: It's Time To Move On

Given the unrestrained growth of management schools and programs across the country, choosing an appropriate b-school might appear to be a daunting task for an aspirant. Yup! I am not exaggerating. It is a matter of fact that management education in India is characterized by pockets of excellence surrounded by ocean of mediocrity. India has got the largest number of B-schools in world. According to AACSB, India tops the chart in terms of volume with a total of 3902 B-schools followed by USA and Philippines which have a total of 1624 and 1259 management institutions respectively. The total number of AICTE approved seats in B-schools has increased by four fold in the last 7-8 years. While, the number of AICTE approved seats in management education were 94,704, in 2006-07, up to 3, 85,008 in 2012-13. According to MeritTrac-MBAUniverse.com 2012 study of employability of MBAs, only 21% of MBAs were employable. A study by MBAUniverse.com and EPSI found that lack of industry relevance has resulted in closure of 500 PGDM schools in last 5 years. MBAs in government run Universities face an acute shortage of applications. 50-75% of seats in most government University MBA programs are lying vacant.